Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
On
The Company is diligently working to evidence compliance with all applicable
requirements for continued listing on The Nasdaq Capital Market and intends to
submit a plan to that effect to the Panel as part of the hearing process. The
Company will present its exploration plans with the sourcing of a drilling rig
and other information on its prospects that should make any reverse-stock split
unnecessary to achieve bid price compliance. However, there can be no assurance
that the Panel will grant the Company's request for continued listing on Nasdaq
or that the Company will be able to regain compliance with the applicable
listing criteria within the period of time that may be granted by the Panel. In
the event that the Panel does not accept the Company's plan for continued
listing of the Company's securities on Nasdaq, the Company's common stock would
be eligible for trading on the OTCQX or OTCQB, which is operated by
1
© Edgar Online, source